CUI Global Announces Retail Sale of its GasPTi Devices to National Grid in the
United Kingdom for Use as Turbine Compressor Engine Controls
TUALATIN, Ore., Oct. 14, 2013
TUALATIN, Ore., Oct. 14, 2013 /PRNewswire/ --CUI Global, Inc. (NASDAQ: CUI),
a platform company dedicated to the acquisition, development, and
commercialization of new, innovative products and technologies, today
announced that its wholly owned subsidiary, Orbital Gas Systems Ltd., has
received an order for eight (8) retail units of the GasPTi device from
National Grid (LSE: NG) in the United Kingdom (UK). The units are being
ordered for installation as part of a retro-fit of engine control processes on
several large, gas-fired compressor turbines operated by National Grid.
(Logo: http://photos.prnewswire.com/prnh/20120320/FL72629LOGO )
According to National Grid, the retro-fit with the GasPTi devices is intended
to decrease fuel consumption; reduce emissions; and improve the efficiency and
thereby life-expectancy of these valuable machines. National Grid operates as
many as 60 of the gas-fired turbines at 23 compressor stations and has changed
its strategy on a Gas Chromatograph ("GC") replacement project to cancel the
GC's and replace them with GasPTi devices, following a review of the latest
By providing almost real-time data to the control processor, the GasPTi, using
the proprietary GasPT2 and VE-Probe technologies, allows the operator to tune
a gas-fired turbine in such a way as to create far better efficiencies and far
lower emissions. This sale represents the first retail sales by Orbital-UK of
the GasPTi for this specific "engine-control" application.
Roger Wood a Senior Gas Quality Engineer with National Grid explained that,
"The Gas PTi removes 'the steps' we currently have in data from the gas
chromatographs; this is a major advancement in providing control for these
engines. The GasPTi also helps us to reduce our operating costs, which is
currently an important initiative for the company"
According to industry analysts, the Global installed base for natural
gas-fired turbines was approximately 46,000 units as of 2009. That figure is
expected to reach 57,000 units by 2018, with associated maintenance costs
rising from $18.3 billion in 2009 to as much as $25 billion by 2018.
As explained by Orbital's Managing Director, Andrew Ridge, "This order
represents our first retail sales into the gas turbine market and continues
our partnership with National Grid. That partnership is designed to create
efficiencies, reduce costs, and improve the services provided by National Grid
to its customers throughout the United Kingdom."
CUI Global's president & CEO, William Clough, stated that, "By continuing to
associate ourselves and our GasPTi device with energy providers as respected
as National Grid, we continue to prove the viability and value of our GasPT2
and VE-Probe technologies. The GasPTi is especially applicable to the natural
gas-fired turbine sector because of its value proposition and the 'real-time'
nature of its analysis."
"We believe that these retail orders by such an industry stalwart for this
specific application (engine control) is the beginning of our penetration into
this exciting new market and will only enhance our ability to approach other
large turbine operators in the future," Clough concluded.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global, Inc. is a publicly traded company dedicated to maximizing
shareholder value through the acquisition and development of innovative
companies, products and technologies. From Orbital Gas Systems' advanced
GasPT2 platform targeting the energy sector, to CUI Inc's digital power
platform serving the networking and telecom space, CUI Global and its
subsidiaries have built a diversified portfolio of industry leading
technologies that touch many markets. As a publicly traded company,
shareholders are able to participate in the opportunities, revenues, and
profits generated by the products, technologies, and market channels of CUI
Global and its subsidiaries. But most importantly, a commitment to conduct
business with a high level of integrity, respect, and philanthropic dedication
allows the organization to make a difference in the lives of their customers,
employees, investors and global community.
For more information please visit www.cuiglobal.com
About CUI Inc
CUI Inc is a technology company dedicated to the development,
commercialization, and distribution of new, innovative electro-mechanical
products. Over the past 20 years, CUI has become a recognized name in
electronic components worldwide in the areas of power, interconnect, motion
control, and sound. CUI's solid customer commitment and honest corporate
message are a hallmark in the industry. CUI is a wholly owned subsidiary of
CUI Global, Inc.
For more information, please visit www.cui.com.
Orbital-UK is the largest natural gas systems integrator in the U.K. For over
25 years, Orbital has developed its portfolio of products, services and
resources to offer a diverse range of personalized gas engineering solutions
to the gas utilities, power generation, emissions, manufacturing and
automotive industries. Orbital-UK's internationally recognized expertise in
the natural gas industry, including bringing together the patented
VE-technologywith the ground-breaking GasPT2 device, offers natural gas
operators and users a comprehensive engineering array for the next generation
of energy metering systems.
For more information, please visit www.orbital-uk.com.
About National Grid PLC
National Grid (LSE: NG; NYSE:NGG) is an international electricity and gas
company and one of the largest investor-owned energy companies in the world.
It plays a vital role in providing energy to millions of customers across the
northeastern U.S. and Great Britain in an efficient, reliable and safe manner.
According to its website, in Britain, National Grid runs the gas and
electricity systems that our society is built on, delivering gas and
electricity across the country. In the North Eastern US, National Grid
connects more than seven million gas and electric customers to vital energy
sources, essential for our modern lifestyles.
For more information, please visit www.nationalgrid.com.
Important Cautions Regarding Forward Looking Statements
This document contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements are subject to
risks and uncertainties that could cause actual results to vary materially
from those projected in the forward-looking statements. The company may
experience significant fluctuations in future operating results due to a
number of economic, competitive, and other factors, including, among other
things, our reliance on third-party manufacturers and suppliers, government
agency budgetary and political constraints, new or increased competition,
changes in market demand, and the performance or reliability of our products.
These factors and others could cause operating results to vary significantly
from those in prior periods, and those projected in forward-looking
statements. Additional information with respect to these and other factors,
which could materially affect the company and its operations, are included in
certain forms the company has filed with the Securities and Exchange
SOURCE CUI Global, Inc.
Contact: Media, CUI Global, Inc., Maggie Lefor, Main: 503-612-2300,
firstname.lastname@example.org; Outside IR contact: Stonegate Securities, Casey Stegman,
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